How Will Gnox (GNOX) Affect Other ‘Hold To Ea…

Competition is natural. Within the world of crypto, competition is even fiercer than in other asset classes because of the discreet nature of blockchains, with even protocols based on the same chains competing for liquidity from investors.

New players constantly enter the fray, and the old contenders must defend their titles. Analysts are curious as to how Gnox (GNOX), a new type of reflection token coming to the BSC (Binance Smart Chain), will affect other Hold To Earn protocols in the ecosystem, such as PancakeSwap (CAKE) and Biswap (BSW).

A Brief Overview of the Protocols

Gnox (GNOX)

Gnox is simplifying the process of DeFi (decentralised finance) investment and making earning within DeFi easy. The developers at Gnox have designed a low-touch solution to a complicated problem. DeFi yields have alluded many ordinary crypto investors, and Gnox is bringing equality to the current paradigm. The protocol features the first treasury designed on behalf of the investor, funded via buy and sell taxes; this protocol leverages economy of scale to provide monthly stablecoin reflections for investors.

PancakeSwap (CAKE)

PancakeSwap is the seventh largest protocol within DeFi and the go to DEX (decentralised exchange) for investors who cannot afford the obscene Ethereum gas fees. Launched in 2020 by anonymous developers, it is one of the best places to earn and swap digital assets.

CAKE is the native and reward token that is distributed to investors in return for providing liquidity. It trades at $3.86, and investors earning now on the platform are hoping to see CAKE tackle its prior peak of $44.

Biswap (BSW)

Biswap features the lowest trading fees of any BSC exchange and was the first DEX to introduce a referral programme meaning traders can earn when their friends make swaps. This marketing tactic was highly effective and saw an influx of users to the platform who remained after witnessing the swap efficiency. Biswap also features a great launchpad where investors can get early access to projects.

BSW trades at $0.36, targeting its next level of critical resistance at $0.63.

The Affect of Gnox (GNOX) upon PancakeSwap (CAKE) and Biswap (BSW)

Gnox will undoubtedly draw more liquidity to the BSC ecosystem and has already been a target of whales who loves to utilise their existing assets to generate income. This influx of capital will help the ecosystem grow as an organic whole. The Gnox treasury may even use PancakeSwap to generate revenue for its investors, delivering liquidity to the platform and becoming a friendly protocol whale.

Gnox’s mechanics show that this protocol is in it for the long haul, and therefore, the continuing succes of the other ecosystem giants is in its best interests. Liquidity is abundant in crypto; what is important is how much of this liquidity blockchains can attract. With Gnox increasing the overall value proposition of the BSC, its addition to the ecosystem will be a boon for both PancakeSwap (CAKE) and Biswap (BSW), helping the foundations grow and develop by drawing TVL from other chains and strengthening the entire ecosystem.

Find Out More Here:

Join Presale: https://presale.gnox.io/register

Website: https://Gnox.io

Telegram: https://t.me/gnoxfinancial

Discord: https://discord.com/invite/mnWbweQRJB

Twitter: https://twitter.com/gnox_io 

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice